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Castor Maritime
(NASDAQ:CTRM)
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Rating:65Neutral
Price Target:
$2.50
▲(30.21% Upside)
Action:Downgraded
Date:09/18/26
The score is primarily driven by mixed financial performance: a strong balance sheet and improved profitability are offset by weak free cash flow and signs that earnings quality may be influenced by non-operating factors. Valuation is a clear positive given the extremely low P/E, while technical indicators are neutral-to-soft and do not add strong momentum support.
Positive Factors
Conservative leverage
Low debt relative to equity gives Castor financial flexibility in a cyclical, asset-heavy industry. This supports vessel investment and reduces balance-sheet pressure when freight markets weaken, although the recent rise in total debt means continued capital discipline remains important.
Negative Factors
Negative free cash flow
Materially negative free cash flow means reported profitability is not currently translating into cash available for debt reduction, distributions, or reinvestment. If sustained, this can increase reliance on asset sales or financing and weaken resilience during weaker shipping conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
Low debt relative to equity gives Castor financial flexibility in a cyclical, asset-heavy industry. This supports vessel investment and reduces balance-sheet pressure when freight markets weaken, although the recent rise in total debt means continued capital discipline remains important.
Read all positive factors
Castor Maritime Key Performance Indicators (KPIs)
Any
Fleet Utilization Rate
Share of available days that were actually employed on revenue‑earning charters or voyages. High utilization indicates strong demand and efficient scheduling, while low utilization points to idle ships, weaker cash flow and potential pricing pressure.
Share of available days that were actually employed on revenue‑earning charters or voyages. High utilization indicates strong demand and efficient scheduling, while low utilization points to idle ships, weaker cash flow and potential pricing pressure.
Data provided by:
The Fly
The FlyCastor Maritime (CTRM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.00M
Dividend YieldN/A
Average Volume (3M)52.29K
Price to Earnings (P/E)0.2
Beta (1Y)0.69
Revenue Growth33.15%
EPS GrowthN/A
CountryUS
Employees123
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)9.32
Shares Outstanding9,662,354
10 Day Avg. Volume64,470
30 Day Avg. Volume52,289
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.03
Price to Sales (P/S)0.24
P/FCF Ratio2.18
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Castor Maritime Business Overview & Revenue Model
Company Description
Castor Maritime Inc. operates as a global shipping company, offering maritime transportation services across three primary divisions: Dry Bulk, Aframax/LR2 Tanker, and Handysize Tanker. The firm is dedicated to the seaborne carriage of various goo...
How the Company Makes Money
Castor Maritime primarily makes money by chartering its dry bulk vessels to customers under shipping contracts and earning freight-related revenue. Its key revenue streams include: (1) Time charter revenue, where a charterer hires a vessel for a f...
Castor Maritime Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
81
Very Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 90.35M | 81.81M | 66.24M | 97.52M | 150.22M | 132.05M |
| Gross Profit | 27.08M | 21.72M | 19.65M | 28.47M | 86.70M | 65.53M |
| EBITDA | 128.14M | 40.21M | 37.37M | 55.71M | 92.28M | 69.99M |
| Net Income | 98.57M | 19.27M | 14.62M | 38.64M | 118.56M | 52.27M |
Balance Sheet | ||||||
| Total Assets | 891.28M | 797.36M | 797.38M | 605.04M | 632.92M | 462.91M |
| Cash, Cash Equivalents and Short-Term Investments | 112.18M | 180.09M | 157.02M | 188.47M | 100.59M | 37.17M |
| Total Debt | 161.58M | 78.05M | 111.32M | 83.39M | 138.77M | 102.04M |
| Total Liabilities | 198.21M | 128.40M | 171.91M | 94.31M | 171.43M | 119.98M |
| Stockholders Equity | 579.86M | 606.14M | 570.13M | 510.73M | 461.50M | 342.93M |
Cash Flow | ||||||
| Free Cash Flow | -49.65M | 9.16M | -30.26M | 41.97M | 47.35M | -287.87M |
| Operating Cash Flow | 30.83M | 10.05M | 41.91M | 42.59M | 123.75M | 60.78M |
| Investing Cash Flow | -10.05M | 97.07M | -133.48M | -9.12M | -63.74M | -348.64M |
| Financing Cash Flow | 43.99M | -46.32M | 59.56M | -2.14M | 48.90M | 321.82M |
Castor Maritime Technical Analysis
Neutral
1.92
Price Trends
2.19
Positive
2.14
Positive
2.11
Positive
Market Momentum
0.04
Positive
44.86
Neutral
16.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTRM, the sentiment is Neutral. The current price of 1.92 is below the 20-day moving average (MA) of 2.39, below the 50-day MA of 2.19, and below the 200-day MA of 2.11, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 44.86 is Neutral, neither overbought nor oversold. The STOCH value of 16.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CTRM.
Castor Maritime Risk Analysis
Castor Maritime disclosed 51 risk factors in its most recent earnings report. Castor Maritime reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Our Series D Preferred Shares rank senior to our common shares with respect to dividends, distributions and payments upon liquidation and are convertible into our common shares, which could have an adverse effect on the value of our common shares. Q4, 2023
2.
We do not have a declared dividend policy and our Board may never declare cash dividends on our common shares. Q4, 2023
3.
We have ceased to qualify as an "emerging growth company" and will incur increased costs as a result. Q4, 2023
Castor Maritime Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $21.26M | 0.74 | 10.21% | 0.20% | 34.61% | -41.81% | |
65 Neutral | $23.00M | 0.24 | 15.86% | ― | 33.15% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $82.01M | 12.42 | 3.80% | 14.68% | 47.79% | ― | |
57 Neutral | $5.51M | 1.10 | 2.85% | ― | -29.35% | -112.70% | |
52 Neutral | $29.19M | -14.99 | -3.03% | 10.39% | -16.73% | 72.04% |
* Industrials Sector Average
CTRM
Castor Maritime
2.21
-0.01
-0.45%
PSHG
Performance Shipping
1.91
0.06
3.24%
GLBS
Globus Maritime
3.93
2.63
202.31%
TOPS
Top Ships
0.73
-4.68
-86.56%
USEA
United Maritime Corp.
3.08
1.57
103.43%
Castor Maritime Corporate Events
Castor Maritime Confirms Director Mandate and Auditor at 2026 AGM
Sep 15, 2026
Castor Maritime Inc., the NASDAQ-listed diversified shipping and energy company based in Limassol, Cyprus, reported the outcomes of its 2026 annual general meeting of shareholders held on September 11, 2026. The firm, which operates an 11-vessel f...
Castor Maritime Files Unaudited Interim Results for First Half of 2026
Sep 14, 2026
Castor Maritime Inc. has filed a Form 6-K with the U.S. Securities and Exchange Commission for September 2026, furnishing unaudited consolidated interim financial statements for the six months ended June 30, 2026, along with management’s dis...
Castor Maritime Swings to $96 Million Half-Year Profit on Strong Dry Bulk Markets
Sep 14, 2026
Castor Maritime reported on September 14, 2026, that it delivered strong results for the quarter and half-year ended June 30, 2026, driven by improved dry bulk market conditions and higher charter rates. Second-quarter vessel revenues rose 46.1% y...
Castor Maritime Forms Joint Venture for M/V Magic Starlight, Unlocks Cash and Gain
Aug 7, 2026
On August 7, 2026, Castor Maritime Inc. announced it had entered into a joint venture with third-party investors to acquire, own and operate the M/V Magic Starlight, a 2015-built Kamsarmax bulk carrier previously owned by the company. Castor contr...
Castor Maritime Sets September 11, 2026 Date for Annual Shareholders’ Meeting
Jul 20, 2026
On July 20, 2026, Castor Maritime announced that its Board of Directors has set September 11, 2026, as the date for the company’s 2026 Annual General Meeting of Shareholders in Limassol, Cyprus. Shareholders of record as of July 17, 2026, wi...
Castor Maritime Expands Fleet with Delivery of Two Modern Kamsarmax Vessels
Jun 30, 2026
Castor Maritime Inc., a diversified global shipping and energy company, focuses on asset management, vessel ownership, technical and commercial ship management and energy infrastructure projects, supported by a fleet of 11 vessels totaling approxi...
Castor Maritime to Add Modern Kamsarmax as Fleet Expands to 10 Vessels
Jun 22, 2026
On June 22, 2026, Castor Maritime Inc. announced that it has agreed, through a wholly owned subsidiary, to acquire a 2023-built modern-eco Kamsarmax bulk carrier for $37.5 million from an unaffiliated seller. The deal, to be funded with cash on ha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.